USDA Weekly Export Sales

The USDA's weekly export sales report for the period May 7-13 featured corn sales of 1,354,100 MT for delivery in 2009/10 and a further 239,000 MT for delivery in 2010/11. That brings combined sales to 1,593,100 MT, well ahead of expectations of 950,000 – 1,250,000 MT. China was confirmed as buying 239,000 MT, with a further 162,000 MT going to unknown destinations. They also bought 130,000 MT of the new crop, with unknown destinations taking a further 58,000 MT. Who said this is just a short-term blip? Hmmmmm.

Soybean sales were 478,500 MT for delivery in 2009/10 and 86,000 MT for delivery in 2010/11. China took 60,000 MT each of old and new crop, confirming that they haven't quite switched totally to South America just yet. Combined sales of old and new crop were therefore 564,000 MT, in line with trade estimates.

Wheat sales were 250,500 MT for delivery in 2009/10 and 205,200 MT for delivery in 2010/11, giving combined sales of 455,700 MT, again this was in line with trade estimates.